87 N Central Ave - Apartments FOR SALE


Umatilla, FL 32784
$1,425,000 USD
615-474-7452
87 N Central Ave, Umatilla, FL for Sale
$1,425,000 USD
Apartments - FOR SALE
1/12
null | 9.48% Cap Rate

87 N Central Ave
Umatilla, FL 32784


HIGHLIGHTS

  • Towne View Place Apartments offers a balanced mix of nine residential units and three ground-floor retail spaces, providing diverse income streams.
  • Recently updated units with central air conditioning, separately metered utilities, and well-maintained facilities ensure low maintenance costs.
  • C1 zoning opens up various possibilities for businesses, from retail to service-based enterprises, catering to the local and visiting community.
  • Between Orlando and Ocala, 87 N Central Avenue is in a growing town at the gateway to the Ocala National Forest, attracting many outdoor enthusiasts.

OVERVIEW

Acquire the Towne View Place Apartments, a 13-unit mixed-use commercial and residential property in Umatilla, Florida. Situated at 87 N Central Avenue, the property spans 17,946 square feet on a 0.16-acre lot, featuring robust concrete block construction with a flat roof. Recently renovated, the property features nine residential apartments, comprising one studio unit, six one-bedroom units, and two two-bedroom units. Additionally, three ground-floor retail units include a barbershop, a janitorial services business, and a restaurant, with one unit partially utilized as a warehouse. Central air conditioning and separately metered utilities enhance the appeal of the space for tenants and business owners. With a diverse mix of living and commercial spaces, Towne View Place provides flexible opportunities for investors. The C1 zoning allows for neighborhood commercial use, making it a prime location for retail or service-oriented businesses. Within walking distance of downtown Umatilla, 87 N Central Avenue offers easy access to local amenities and services, while also being strategically positioned between Orlando and Ocala along State Road 19, providing access to larger markets. Umatilla is a charming and growing town, often referred to as the Gateway to the Ocala National Forest. Its natural beauty attracts hikers, boaters, and nature lovers, making it an ideal location for residents and tourists. For more details, including financial and secured documents, reach out to the listing agent for additional information.

FOR SALE DETAILS

PRICE

$1,425,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

9

PRICE/UNIT

$158,333

CAP RATE

9.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Towne View Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1916

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

C-1

APN/PARCEL ID

13-18-26-1200-00G-00100

ASK ABOUT THIS PROPERTY

Josh MedfordGreen Tech InvestmentsMore Info
615-474-7452

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Josh MedfordGreen Tech InvestmentsMore Info
615-474-7452

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.